Bitcoin (BTC) closes above $112,000 for the week, setting up a battle between bulls and bears. Liquidity games return, sparking fears of liquidating late longs next. US employment data takes center stage amid pressure on Federal Reserve Chair Jerome Powell. Gold hits all-time high, prompting speculation for Bitcoin to follow suit. On-chain data shows panic selling by speculators at lows, while long-term holders remain steady. Long liquidations loom as Bitcoin climbs back above $112,000, reshuffling liquidity on exchange order books. $350 million in total crypto liquidations in 24 hours, with shorts accounting for $260 million. Market commentators speculate on potential BTC price movements based on order book setup. US jobs data and Fed officials’ comments dominate the week as traders seek clarity on interest rate cuts. Federal Reserve members divided on rate cuts, with traders hoping for more easing to boost risk assets. Gold surpasses $3,800 per ounce, setting new all-time high as US dollar weakens. Bitcoin underperforms compared to gold, as market signals preference for gold as a hedge. Bitcoin speculators panic sell at local lows, while long-term holders remain confident in the market. Onchain data shows short-term holders selling at a loss, while long-term holders maintain their positions.

Read more at Cointelegraph: Can Bitcoin Avoid a Correction to $108,000 This Week?